Sale of Salam
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Fatwa No. ( 8713 )
Q: We inform your Eminence that most of the citizens in our area engage in interest-based sales, which are as follows: 1- They give (9500, nine thousand and five hundred riyals)
for a (Datsun) of next year's model, and likewise ten thousand riyals for a (Datsun) from the night shift. 2- I request a detailed response; because the value of the (Datsun) ranges from (15, fifteen thousand) and more, is this riba? Because I work as the imam of the Jash Grand Mosque, and I believe this is riba, but I turn to Allah, then to your Eminence, for a swift decision on our situation regarding this grave phenomenon that has spread throughout our society in a general manner.
A: If the reality is as mentioned, it is a type of sale called: Sale of Salam. If the car is specified by its attributes, which cause the price to vary, such that it becomes known to the buyer thereby, and the term is known, and this type of car is generally available at the time of the term, even if it is not available at the time of the contract, and the seller receives the entire price at the time of the contract before parting ways - then this sale is permissible, whether the price is the same as its price if the sale were immediate, or more than that, or less, due to the deferral. That is not considered riba al-fadl or riba al-nasi'ah, due to the difference in kind, and the fact that one of the two offers is not a ribawi item.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: We inform your Eminence that most of the citizens in our area engage in interest-based sales, which are as follows: 1- They give (9500, nine thousand and five hundred riyals)
for a (Datsun) of next year's model, and likewise ten thousand riyals for a (Datsun) from the night shift. 2- I request a detailed response; because the value of the (Datsun) ranges from (15, fifteen thousand) and more, is this riba? Because I work as the imam of the Jash Grand Mosque, and I believe this is riba, but I turn to Allah, then to your Eminence, for a swift decision on our situation regarding this grave phenomenon that has spread throughout our society in a general manner.
A: If the reality is as mentioned, it is a type of sale called: Sale of Salam. If the car is specified by its attributes, which cause the price to vary, such that it becomes known to the buyer thereby, and the term is known, and this type of car is generally available at the time of the term, even if it is not available at the time of the contract, and the seller receives the entire price at the time of the contract before parting ways - then this sale is permissible, whether the price is the same as its price if the sale were immediate, or more than that, or less, due to the deferral. That is not considered riba al-fadl or riba al-nasi'ah, due to the difference in kind, and the fact that one of the two offers is not a ribawi item.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.